Latest housing sales report show positive numbers in East Texas

According to the Texas Association of Realtors

EAST TEXAS (KYTX) - Some cities in northeast Texas outpaced the state in percentage increases among housing sales and prices during the second quarter of 2012. Some other cities brought up to rear.

The Texas Association of Realtors on Wednesday released its quarterly housing report. Sales and prices in the Lufkin and Longview-Marshall areas set the tone for this region.

For year-to-year median home prices, Lufkin led all cities in Texas. The Angelina County city noticed a 24.2 percent uptick in median prices, from $101,200 in 2011's second quarter, to $125,700 in the second quarter of 2012.

Meanwhile, Longview-Marshall bested the statewide average in increase housing units sold and median prices.

Statewide, Realtors reported a 13.04 percent increase in units sold, a 7.45 percent increase in median price, a 7.13 percent increase in average price and a 27.16 percent decrease in monthly inventory.

The Tyler area posted a less than one percent increase in units sold, a 1.22 percent decrease in median home prices (from $139,100 to $137,400) and a 4.49 percent increase in average prices (from $166,758 to $174,258).

The numbers did not fair as well for Nacogdoches and Paris. Nacogdoches posted a double-digit percentage drops in housing units and a decrease in median and average prices. Paris ranked last statewide both in median price, with a 20.59 percent decrease, and in average price at a decrease of 17.38 percent.

In another example of how Texas is leading the nation's economic recovery, the real estate market continues to show marked improvements over last year, according to the Texas Quarterly Housing Report issued Wednesday by the Texas Association of Realtors. Featuring 13 percent more single-family home sales than the same quarter of the prior year and a median price that was seven percent higher than second quarter 2011, the results demonstrate that Texas's economic recovery is robust and widespread throughout the state.

"The momentum we saw in the first quarter of this year is continuing and we're seeing that now not only in increased sales volume, but also in a strong increase in the median price," says Joe Stewart, chairman of the Texas Association of Realtors. "That is good news for Texas homeowners who have been thinking of moving up, but who have remained on the sidelines because they're concerned about earning full value for their current home."

In the second quarter of 2012, 67,334 single family homes were sold in Texas, which is 13.04% more than the second quarter of 2011. In addition, the median price in the second quarter of 2012 was $161,400, which is 7.45% more than 2011-Q2.

Leading the way among Texas' metropolitan and micropolitan areas were: Port Arthur in units sold, with a 37.9 percent year-to-year increase between second quarter 2011 and second quarter 2012 numbers; Lufkin in median price, with a 24.2 percent increase; and, South Padre Island in average price, with a 47.88 percent increase.

Ranking last, percentage-wise, in year-to-year housing sales were: Sherman-Denison in units sold, with a 12.46 percent decrease; and Paris both in median price, with a 20.59 percent decrease, and in average price at a decrease of 17.38 percent.

East Texas cities at a glance:

Longview-Marshall, 13.72 percent increase in units sold, 10.03 percent increase in the median price, 6.77 percent increase in average price, and 13.51 percent decrease in monthly inventory

Lufkin, 0.66 percent increase in units sold, 24.2 percent increase in median price, 12.34 percent increase in average price, and 5.82 percent decrease in monthly inventory

Nacogdoches, 13.41 percent increase in units sold, 3.16 percent decrease in median price, 1.98 percent decrease in average price, and 11.7 percent decrease in monthly inventory

Palestine, 3.57 percent decrease in units sold, 9.05 percent increase in median price, 13.56 percent increase in average price, and 11.02 percent decrease in monthly inventory

Texarkana, 9.81 percent increase in units sold, 1.32 percent increase in median price, 7.0 percent increase in average price, and 15.23 percent decrease in monthly inventory

Tyler, 0.83 percent increase in units sold, 1.22 percent decrease in median price, 4.49 percent increase in average price and 16.55 percent decrease in monthly inventory

Statewide, Realtors reported a 13.04 percent increase in units sold, a 7.45 percent increase in median price, a 7.13 percent increase in average price and a 27.16 percent decrease in monthly inventory.


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment
TRENDING VIDEOS